What is the impact of exchange rates on international trade?
An example of an AI chatbot conversation about the impact of exchange rates on trade.
What is the impact of exchange rates on international trade?
Exchange rates affect the price of goods and services between countries, influencing trade balances.
Can you explain how a stronger currency affects exports?
A stronger currency makes exports more expensive for foreign buyers, potentially reducing demand.
What about imports? How does a weaker currency affect them?
A weaker currency makes imports more expensive, which can lead to higher costs for consumers and businesses.
Are there any long-term effects of fluctuating exchange rates?
Yes, long-term fluctuations can lead to structural changes in economies, affecting competitiveness and investment.
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